Real estate finance: our experience
How can our Real Estate Finance team assist you?
Our Real Estate Finance team are solutions-focused, often overcoming complex legal issues through innovative structures and bespoke arrangements.
We do this whilst at all times maintaining a collaborative approach with our clients, their counterparties and other professional advisers. We use our expert project management skills to drive any transaction through to completion in a pragmatic and commercial manner.
We advise on and project manage complex transactions in a wide range of disciplines, including:
Very well done for getting this over the line. Despite the complexities and testing timescale, it has been handled with pragmatism and good grace throughout.
Corporate and commercial
We regularly act for lenders and borrowers on sizeable and complex corporate financings, many of which have multi-jurisdictional aspects.
We are on the legal panels of most of the UK clearing banks and act for a broad spectrum of financial institutions from banks, alternative lenders and private clearing equity houses through to individuals. Our advice encompasses senior and mezzanine debt and other forms of structured finance, second charge and bridging finance, a full range of security trust and security arrangements (including using security in unusual and inventive ways), together with intercreditor and other priority arrangements.
Our borrower clients range from start-up businesses and SMEs through to large national and multinational organisations. We have extensive experience in business acquisitions and mergers (including management buy-ins and buy-outs), leveraged corporate finance and structured finance.
We are full members of the Loan Market Association and regularly use its template finance documents where it is appropriate for our larger funding transactions.
We have also advised on public and private Eurobond issues, including prospectus “passporting” for listings on European investment exchanges.
Recent experience includes:
- Acting for an alternative lender on a £16,300,000 warehouse financing of an SME lender.
- Acting for an alternative lender on a £14,000,000 warehouse financing of an invoice financier.
- Acting for a syndicate of Canadian banks on its CAN$27,000,000 financing of a multinational software company.
- Acting for a mainstream Canadian bank on its CAN$8,500,000 financing of a multinational clothing manufacturer.
Property and development
We have a proven track record of advising both lenders and borrowers in finance transactions throughout the property industry.
Our in-depth knowledge allows us to advise on all aspects of the financing of property development and property investment, drawing where required on the expertise of our construction, development, planning and commercial property teams.
Recent experience includes:
- Acting for the finance arm of a luxury car manufacturer in relation to the financing of purchases and new developments of car dealerships, totalling up to £100,000,000 per calendar year.
- Acting for a mainstream bank on a £15,000,000 development financing in relation to the construction of a 7,000-vehicle capacity national distribution hub on a former colliery site.
- Acting for a mainstream bank on a £3,600,000 facility in relation to the acquisition of a mixed office and retail complex.
Social housing
We regularly work on new financings alongside our social housing team, which has an outstanding reputation as a leading supplier of legal solutions to the social housing sector.
With our extensive knowledge of the social housing sector, we advise both lenders and registered providers of all sizes on a full spectrum of social housing finance, including leveraged and development finance, public bond issuances and private placements.
Recent experience includes:
- Acting for a mainstream bank on a £40,000,000 revolving credit facility for a large registered provider.
- Acting for a registered provider on a £10,000,000 revolving credit facility with a mainstream bank.
- Acting for a registered provider on a £9,000,000 term and revolving development finance facility with a syndicate of social purpose banks.
Manufacturing and engineering
We regularly work alongside colleagues in our manufacturing and engineering sector team on new financings within the sector, advising lenders and borrowers alike.
Recent experience includes:
- Acting for the owner-manager of a packaging company on a £32,000,000 staggered management buy-out, including £6,500,000 of new financing provided by a mainstream bank.
- Acting for an alternative lender on a £3,000,000 financing of a management buy-out and buy-in in respect of a fasteners manufacturer.
- Acting for a pottery manufacturer on a £2,400,000 refinance with a mainstream bank.
I wanted to say thank you and acknowledge the outstanding effort from the Wright Hassall team in supporting Cynergy Bank complete on the recent refinance of the residential portfolio. With a portfolio of over 50 properties and multiple lenders the refinance was always going to be complex but the professionalism and proactive engagement from the Wright Hassall team ensured this great opportunity completed smoothly. Thank you.
Health and social care
Working closely with colleagues in our health & social care sector team, we regularly act on new financings within the sector, advising both lenders and borrowers alike.
Recent experience includes:
- Acting for a care group on a £11,000,000 refinance with a mainstream bank together with associated intercreditor arrangements with joint venture partner.
- Acting for a care group on a £4,900,000 refinance with a mainstream bank.
- Acting for an alternative lender on a £3,200,000 refinancing of three care homes.
Agriculture
Our highly experienced agricultural team has an in-depth understanding spanning 170 years in the agriculture and food sector. We work closely with the team in advising both lenders and borrowers within the sector on a variety of financing and specialist security issues.
Recent experience includes:
- Acting for a mainstream bank in relation to the financing of a £1,800,000 purchase of agricultural land, including advising on intercreditor arrangements with a secured overage holder.
- Acting for a member of a farmer’s grain co-operative in respect of the establishment of a security trust and security arrangement in respect of membership entitlements.
- Acting for two farmer landlords in negotiating a highly complex direct agreement with the mainstream bank funder to their tenant, a solar farm operator.
Invoice, supplier and asset finance
We have a breadth and depth of knowledge around all aspects of asset-based lending, including invoice finance, factoring, receivables securitisation, supplier finance, hire purchase, sale and leaseback, finance leases and operating leases. We bring this knowledge to bear for lender and borrower clients alike to obtain the best solutions to their asset based lending needs.
Recent experience includes:
- Acting for an alternative lender on a £14,000,000 warehouse financing of an invoice financier.
- Acting for a plastics manufacturer on an £11,000,000 refinance with a mainstream bank, comprising a £7,000,000 invoice finance facility, a £2,000,000 stock, plant and machinery facility and a £2,000,000 working capital term loan.
- Acting for a small business lender on the template documents for a card receivables sale and purchase arrangement, which will grow a debt book of up to £4,000,000.
Restructuring, insolvency and enforcement
We provide clear, practical and commercially-focussed advice on restructurings and also on insolvency matters. We act for directors, companies, banks and other financial institutions, private equity investors, insolvency practitioners and other stakeholders; we are able to offer deep industry knowledge and experience in corporate restructurings and refinancings, distressed debt transfers and insolvency matters, including the options available to secured creditors around enforcement of security.
Recent experience includes:
- Acting for a German manufacturer in respect of its claim in the voluntary liquidation of an English customer.
- Acting for the business support division of a mainstream bank in respect of a complicated intercreditor arrangement involving itself, its invoice finance sister company, the pension trustee of the borrower’s pension scheme, and an incoming bridging lender.
- Acting for an alternative financier in respect of the appointment of a receiver to a piece of real property.
Leisure and hotels
We regularly work alongside colleagues in our commercial real estate and construction teams on financings in the leisure sector, in particular in respect of the construction, redevelopment and refurbishment of hotels and holiday resorts.
Recent experience includes:
- Acting for a group of luxury hotels on an £18,000,000 development finance facility from a mainstream bank to fund the expansion of an existing hotel and the construction of a new hotel.
- Acting for an alternative lender on an £8,000,000 financing of the acquisition and refurbishment of a significant hotel, including its re-branding under new franchising arrangements.
- Acting for an alternative lender on a £4,000,000 financing of the fit-out of a holiday resort.
Consumer credit
We have extensive knowledge of the UK’s highly complex consumer credit regime and regularly advise lenders which are not FCA-authorised for consumer credit activities on the “safe harbours” that may be available to them within the regime in respect of loans to individuals, partnerships and unincorporated bodies.
